Senior Member

Yes, young stalwarts 40yrs down the road will come out of Universities, bright, energetic, full of passion, lower starting pay.

A chap that's 40yrs old (assuming he's in his 20s now, and goes for skills upgrades, has wealth of experiences and doesn't slack or cut slacks), each serves an area of speciality in their own right which shldn't overlap.

But these days, its all about the money unfortunately. I can't imagine how the situation would break down to an even worse state 20yrs down the road.

Senior Member

I heard of someone who was retrenched at 36 and four years down road, still cannot find a job. So I guess it depends on which line you are in. Changing line at 40 is difficult because of the employers discrimination on age. Work experience in a particular line of work doesn't help when the job market prefers younger workers.:thumbsd:

Senior Member

I think my investment banker friend says it best when he tells me he's "making hay while the sun shines." He's earning and saving as much as he can, even though he's got quite some way to go before he hits 40.

He is a fool who thinks that good times will always continue and does not plan for obsolescence. Everyone has a shelf life, some longer, some shorter.

If you're modelling for Clubsnap members, I doubt that you will get many assignments beyond 25 or 30.

If you're a manager or engineer, I would estimate that 40 is about the limit, unless you're in the top 5% of your cohort, in which case you become part of the "establishment". Otherwise you become dispensable, and a liability to the company. High salary, higher medical coverage. It only makes sense to get rid of you and hire a younger, healthier, hungrier, more eager-to-please replacement. Sad thing is, most middle class Singaporeans fall into this category, and they are hit hardest by the middle class squeeze.

I count myself fortunate to be in a profession where experience is valued, and self-employment is a viable option, but even then I don't expect many people will want to see me when I'm 70. I expect my expiry date to be about 65 (if I live that long, that is).

So if you're a manager or engineer, what are the options?

I know of quite a few financial types who "retire" to start their own "consultancy firms". Not being in the line I'm not sure what that means, but the bottom line is that you become self-employed. There are others who use their nest egg to invest wisely and live off the proceeds.

Those who don't plan ahead end up as taxi drivers and grocery baggers at the supermarket. You've seen them, I'm sure.

I've always believed it's best to start off being your own boss right from the beginning. You may struggle a little more than your employed peers at first, but nothing beats the satisfaction of knowing that whatever you earn goes into your own pocket, and in the long run, you're a lot better off. Imagine trying to start your own business at the age of 40 rather than 20.

Senior Member

Why do we always have to think about work? Can't we retire by age of 40? Population aging will never be an issue if the older ones gets to retire and make way for a job for the younger ones..but sadly..

Why do we always have to think about work? Can't we retire by age of 40? Population aging will never be an issue if the older ones gets to retire and make way for a job for the younger ones..but sadly..

Senior Member

True.... I already have a fully paid house outside Singapore. I can use my CPF $$$ to retire and buy more gears..like 1200mm. just mount on my balcony and shoot from there. cos by then i would be too weak to move the bugger ard.

Moderator

True.... I already have a fully paid house outside Singapore. I can use my CPF $$$ to retire and buy more gears..like 1200mm. just mount on my balcony and shoot from there. cos by then i would be too weak to move the bugger ard.

Senior Member

I think StreetShooter has got some useful advise there. Despite the public sympathy for Derek's blog, the reality is that if you do not plan ahead... changes are, you will hit that 40 and wonder where the job has gone. The current education system and "conventional wisdom" is that you Study - Get Paper - Get good job - Work hard - Happily ever after.... But in reality, the pace is going faster and every company is cutting cost. If you do not come up tops, you'd likely be replaced.

Starting your own business is of course another way to get out of this. And this takes time and some money.

Going overseas is also an option but only if you have skills required in that country. And if you can adopt the culture and system there.

DeSwitch, ortega - Hehe! A retirement home for photogs?? Hahah sounds good! Can I burrow the 1200mm??:lovegrin: